Updating a previous story, free-agent QB Mark Sanchez (Broncos) has agreed to a contract with the Dallas Cowboys. Terms of the deal were not disclosed.

Fantasy Tip: Dak Prescott owners have nothing to worry here, as Sanchez will only serve as a veteran presence and injury insurance for however long Tony Romo is out. Once Romo returns, it is entirely possible Sanchez goes right back to being a free agent.

Fantasy Tip: Sanchez likely would be the backup to Dak Prescott if he signs with the Cowboys, but he could have a chance to start if Prescott struggles. Owners should avoid Sanchez during drafts, but he could be a waiver wire option during the season if he becomes the starter.

Fantasy Tip: Sanchez could be more of an option for the Cowboys if he is released by the Broncos. Sanchez will be a backup no matter where he plays this season and will not be a fantasy option unless he starts.

Denver Broncos QB Mark Sanchez did not play in the team's third preseason game Saturday, Aug. 27, against the Los Angeles Rams. If the team elects to cut him, they save $4.5 million and a seventh-round draft pick.

Fantasy Tip: Sanchez hasn't stepped up and seized the chance in Denver, falling behind Trevor Siemian and Paxton Lynch with the usual comedy of errors during his first two preseason games. It appears his time is over in Denver, and he is no longer a fantasy option whether he sticks around or finds work elsewhere.

Fantasy Tip: This was somewhat expected after Sanchez lost two fumbles in limited action during last weekend's preseason loss to the San Francisco 49ers, and pretty much slams the door on his chances to open the season as the starter. There is also reason to believe Lynch may have a shot to open the season as the starter, especially if he shines in the snaps he sees with the first team Saturday. Siemian is obviously the favorite now, but it seems obvious owners should not be looking for a QB2 in this mess of a situation.

Fantasy Tip: Sanchez would be a low-end QB2 if he were to win the job, but he obviously has no fantasy appeal if he cannot beat out Siemian or Lynch. Things are looking bleak for the veteran in Denver.

Fantasy Tip: Siemian and Sanchez continue to compete for the starting quarterback job and this game should be important because the team may decide on their starter in the near future. Neither quarterback is a great option for fantasy owners, but the winner of the job could be a No. 2 quarterback for owners since Denver has solid receiving options.

Denver Broncos head coach Gary Kubiak hasn't announced if QB Mark Sanchez or QB Trevor Siemian will start the club's second preseason game against the San Francisco Giants Saturday, Aug. 20. Each quarterback played a quarter during the preseason opener against the Chicago Bears Thursday, Aug. 11, and both players will continue to receive starter reps in practice on a daily basis for the foreseeable future.

Fantasy Tip: Regardless of which quarterback wins the competition for the starting job in Denver, they should be viewed as a low-end QB2 in the majority of seasonal leagues and as a possible bye-week replacement.

Fantasy Tip: Sanchez is in a fight for the starting quarterback job, and this performance should help his cause. With solid weapons to work with, he should be a mid-range QB2 if he opens the year on center.

Fantasy Tip: The Denver quarterback situation is a sticky one, and one that should be avoided if possible in the fantasy realm. As stated earlier, none of the Broncos' quarterbacks should be drafted as fantasy starters.

Fantasy Tip: Sanchez and Trevor Siemian will probably see a good deal of playing time as the preseason progresses in order for the coaching staff to better determine their regular season starter. Whoever wins the job should only be viewed as a bye-week replacement at best, however.

Denver Broncos QB Mark Sanchez had an up-and-down day in practice Monday, Aug. 1. He completed six consecutive passes working with the first unit in seven-on-seven drills, but he also misfired on four straight during the session and he was picked off in the red zone. "Mark threw a pick in the red zone; we can't do that," head coach Gary Kubiak said.

Fantasy Tip: Sanchez is still believed to have a leg up in the competition for the starting gig, although nothing is made official just yet. The winner of the Denver QB job will be a Top 15 option at his position.

Denver Broncos QB Mark Sanchez was benched after throwing an interception at practice Friday, July 29, and was replaced by QB Trevor Siemian, who led the first-team offense for the remainder of practice. Head coach Gary Kubiak said after practice he expects Sanchez and Siemian to receive an equal amount of reps over the next couple of weeks.

Fantasy Tip: Sanchez still has to be considered the favorite to open the year as the starter, but he doesn't have value outside of two-quarterback leagues.

Fantasy Tip: Kubiak said there is no favorite at this point, but Sanchez will be starting off the drills Thursday. Owners will need to keep an eye on the situation during preseason to see who wins the job. Sanchez and Siemian are the top candidates at this point but neither is a great fantasy option.

Fantasy Tip: Sanchez and Siemian appear to be the top candidates for the job and the decision likely will not come until after a few preseason games. The winner of the competition will have weapons to work with on offense but should be seen as a No. 2 quarterback in all fantasy leagues.

Denver Broncos FS T.J. Ward said the team's quarterback competition is "even" between QBs Mark Sanchez, Trevor Siemian and Paxton Lynch. "We got three guys working really hard," Ward said. "They've all worked with the 1's, 2's and 3's. We have seen them work with different receivers in the starting offense and second-string offense. I'm not sure (who will start in September). ... Sometimes you really have to see who threw the ball or who is starting with the 1's because they're pretty even."

Fantasy Tip: Sanchez has the most experience, but Siemian and Lynch are younger and have more upside at the position. The job will be decided in training camp this summer. Lynch is likely to sit and learn, leaving the competition mainly between Sanchez and Siemian. Regardless of who wins the job, neither QB should be trusted as anything more than a midrange fantasy backup.

Denver Broncos QB Mark Sanchez must win the starting quarterback job in training camp, according to The Denver Post's Troy Renck. Renck said he originally thought it was Sanchez's job to lose, but he still gives him a slight edge as the starter.

Fantasy Tip: This drum has been beaten all offseason, but none of the Broncos' quarterbacks are reliable fantasy options this year. Sanchez is probably more reliable, but he's only worth a bye-week replacement start if he does start for Denver.

Fantasy Tip: Sanchez appears to be the leading candidate for the starting quarterback job but will have to earn it. Sanchez will only be a No. 2 quarterback in most fantasy leagues is he wins the starting job.

Fantasy Tip: Sanchez appears to be the leading candidate for the starting job at this point, but he will have to compete with Siemian and Lynch during training camp. Sanchez has had some success in the past but would only be a No. 2 fantasy quarterback if he starts.

Denver Broncos WR Demaryius Thomas is not worried about the team's uncertainty at the quarterback position this offseason. "Oh we're not worried," Thomas said. "We still got time. These guys are going to be fine. Mark Sanchez has won playoff games. I can't say much about (the experience of) Paxton Lynch and Trevor Siemian, but they've been great so far. So we'll be fine. We got playmakers around them and coaches will put them in the right situation, and of course we've still got our great defense."

Fantasy Tip: The Broncos have plenty of weapons in the passing game and on the ground, but whoever wins this competition -- it'll most likely be Sanchez -- can't be safely considered anything more than a midrange fantasy backup. Lynch's value lies in keeper/dynasty formats for now.

Denver Broncos QB Mark Sanchez (thumb) went through a full workload in team and seven-on-seven periods Tuesday, May 31, during organized team activities (OTAs). "We'll get eight or nine (days) of good work with him under center," head coach Gary Kubiak said. Sanchez, QB Trevor Siemian and QB Paxton Lynch each split the first-team snaps three ways.

Fantasy Tip: Sanchez is trying to fend off the first-round draft pick Lynch and Siemian for the starting quarterback job in Denver. Sanchez obviously has the most experience and would be a decent No. 2 QB in fantasy with Demaryius Thomas and Emmanuel Sanders at his disposal.

Fantasy Tip: This quarterback battle really could come down to the final preseason game. Sanchez is probably the favorite for now considering his experience, but none of the three should be considered starting caliber in fantasy leagues.

Denver Broncos head coach Gary Kubiak said Tuesday, May 25, that competition is open at quarterback in organized team activities. However, QB Mark Sanchez's experience gives him the clear edge over QBs Trevor Siemian and Paxton Lynch despite not having started a season opener since 2012. Sanchez must perform in training camp to hold the other two young QBs off. If he wins the job, Sanchez must limit turnovers during the season to keep the job.

Fantasy Tip: Just like they did in their 2015 Super Bowl run, the Broncos are expected to lean on a strong defense and the run game to succeed. Sanchez is expected to start and take on a game-manager role, which limits his fantasy upside despite a strong receiving corps at his disposal. The fact that his leash will be short and that he's struggled with consistency since early in his career makes him a midrange fantasy backup, at best.

Denver Broncos QB Mark Sanchez (thumb) is doing just about everything the other quarterbacks are doing in organized team activities Tuesday, May 24. Sanchez isn't taking snaps under center, however.

Fantasy Tip: Sanchez is slightly limited in OTAs, but the only thing that really matters is that he should be a full go for training camp this summer. He's in position to win the starting quarterback job unless Paxton Lynch really puts on a clinic and unexpectedly forces Denver's hand. Sanchez is more of a game manager and won't be asked to push the ball downfield too often, limiting his fantasy ceiling to that of a midrange backup.

Denver Broncos QB Mark Sanchez (thumb) is hopeful he'll be able to participate when organized team activities begin next week. Sanchez is currently recovering from surgery on his left thumb and he is encouraged by the progress of the recovery.

Fantasy Tip: It's not a serious injury, to be sure, and it's not even his throwing thumb. Sanchez should return to full strength and full participation in the not-too-distant future, but he still won't be in starting fantasy quarterback territory.

Denver Broncos QB Mark Sanchez (thumb) injured his left thumb in the weight room Thursday, May 12, and underwent surgery Saturday, May 14. He will miss a few organized team activities, according to Mike Kils of 9news.com.

Fantasy Tip: It still sounds like Sanchez will be ready to participate in training camp and should be fine for the regular season. He will probably start over rookie Paxton Lynch, at least to start the season, but Sanchez still isn't worth drafting as a weekly starting fantasy quarterback.

Denver Broncos QB Mark Sanchez still views himself as a starting quarterback and believes Denver drafting QB Paxton Lynch was affirmation of his starting status. "Absolutely, that's the message I've received," Sanchez said. "I'm thrilled with the opportunity." Sanchez hasn't let Lynch or any potential trades change his focus. "I just kind of learned with time, who knows what's going to happen and who cares? What are you supposed to do? Meet your teammates, develop a relationship with them, learn the playbook, get involved in the community, that's it, those three things."

Fantasy Tip: Sanchez is certainly approaching this situation with maturity. He's probably the safer option as a starting quarterback for Denver, at least in 2016. Lynch appears to be the quarterback of the future. Neither Sanchez nor Lynch should be regarded as a starting fantasy quarterback this season, though.

Fantasy Tip: Sanchez does have the edge right now and is the safer starting option for the Broncos in 2016. It's important for Lynch to become acclimated to Denver's offense and the feel of the NFL this year. Lynch is likely the future of Denver's quarterback position, but his growth process will take some time. Sanchez is not a QB1 and should only be started as a bye-week replacement in good matchups.

Fantasy Tip: Sanchez should be considered the frontrunner to open the year as the starter, but he would be a lower-end QB2. Lynch has intriguing potential in dynasty and keeper leagues, but he may need at least a year to develop.

Fantasy Tip: Don't rule out the Broncos trading for Colin Kaepernick during the draft, but that scenario is appearing less and less likely. A rookie quarterback could come in and compete for the job in training camp, but Denver would likely prefer to groom him for down the road. That means Sanchez is the projected starter. He has a lot to work with in this offense, but he'll probably remain in more of a game-manager role. Sanchez is a midrange fantasy backup if he's starting.

Denver Broncos QB Trevor Siemian could compete with QB Mark Sanchez for the starting quarterback role this year, according to head coach Gary Kubiak. "Absolutely, Trevor's a young player who made up a lot of ground last year, we think a lot of him," Kubiak said. " ... Trevor will know what he's doing when he walks in here (April 18). It will be up to him ... I know our football team has a lot of confidence in him, I know I do. He's got the talent to do it, we'll see." However, the Broncos are expected to take a long look at quarterbacks in this year's draft.

Fantasy Tip: The Broncos are fully expected to draft a quarterback of the future, so while Siemian could push Sanchez in training camp this fall, it's unlikely he's on the field as the starting quarterback unless an injury occurs. Siemian shouldn't be on anyone's fantasy radar.

Denver Broncos QB Mark Sanchez isn't worried about the possible competition from San Francisco 49ers QB Colin Kaepernick if Kaepernick is traded to the Broncos. Sanchez is focused on making the most of his opportunity and competing for the starting quarterback position. "I will be friendly and professional with whoever is there. But I want this bad. Really bad," Sanchez said. "I want what [Denver] experienced last year."

Fantasy Tip: The Broncos are still at an impasse with a Kaepernick trade, so Sanchez looks to be the favorite to start for now. If a trade falls through, Denver will likely draft a quarterback. They may even draft one if they trade for Kaepernick. The bottom line is that Mark Sanchez is not in starting fantasy quarterback territory.

Denver Broncos QB Mark Sanchez is holding his annual passing camp Monday, April 4, Tuesday, April 5, and Wednesday, April 6, in California. He will work with Denver wide receivers, tight ends, running backs and QB Trevor Siemian.

Fantasy Tip: It's still unclear if Sanchez will be the starter for the Broncos in 2016, but he's certainly playing the part for now. Whether he starts or not, he's comfortably in backup fantasy quarterback territory.

Fantasy Tip: Denver will likely bring in another QB either through the draft, in free agency or via trade to compete with Sanchez for the starting role. At this point, whoever is under center in Week 1 for the Broncos will surely be more of a fantasy backup.

Denver Broncos QB Mark Sanchez could flourish in Denver's system, according to head coach Gary Kubiak. "One of the things we feel really good about is we feel good about getting Mark," Kubiak said. "Mark's got 60 starts in this league -- he's started two AFC Championship (games) ... we feel really good about him, how he fits. He's got some background in what we do."

Fantasy Tip: The Broncos plan on bringing in another QB to compete with Sanchez this year, so he's not guaranteed any starting job just yet. But if he does end up being the starter, he may fit Denver's scheme on offense and be underrated in fantasy. However, you shouldn't think of him as anything more than a midrange fantasy backup in 2016.

Denver Broncos QB Mark Sanchez will not be handed the starting job, according to general manager John Elway. Elway said the Broncos will bring someone in to compete. "Everything is out there. There are still a lot of guys [available]," Elway said. "You never know what's going to fall out of the tree. We are not in any rush."

Fantasy Tip: Colin Kaepernick, Ryan Fitzpatrick and Robert Griffin III are regarded as the top options available at quarterback right now. The Broncos have discussed a Kaepernick trade with the San Francisco 49ers, but nothing has come to fruition yet. If Sanchez does start, he still won't be worth starting in fantasy leagues.

The Denver Broncos will give serious consideration to selecting a quarterback in the first two days of the NFL Draft next month. QB Mark Sanchez was just traded for last week and expects to compete for the starting job in training camp.

Fantasy Tip: If Denver selected a quarterback in the draft he could sit a year behind Sanchez before given a realistic shot at the job in 2017. Sanchez has had his moments in the NFL but hasn't done much recently, and he can't be expected to serve as anything more than a fantasy backup if he wins the job.